It is essential that you begin to educate yourself with resources pertaining to small business. SCORE is a good first step. I am surprised you never heard of it if you have owning a business on the brain.
What formula did you use to reach the time frame of 2-3 years to turn a profit? What research and market share do you have to back that up? Are you comfortable with a group of people that are willing to work for no pay in the hopes that a profit will be turned "down the road"?
What research have you done to see if your idea is even viable? Do you have any stats that offer you a piece of mind that in 2-3 years the app you want to create will even still be technologically current and useful? Do you and your group have clearly defined roles for all aspects of running a business?
